The Mexican peso was appreciated for the third consecutive session against the American dollar this Friday and closed a week of earnings. The local currency extended the advance registered after the announcements of the Federal Reserve and the Bank of Mexico.
The exchange rate ended operations at the level of 20.7862 units against 20.8167 units yesterday, with data from Banxico. This means a gain for the local currency of 3.05 cents, which is equivalent to a slight 0.15 percent.
The cross traded in a range between a maximum of 20.8660 units and a minimum of 20.7010 units (its best record in almost a month), despite an advance in the Dollar Index (DXY), which measures the greenback, from 0.54% at the level of 96.56 units.
“The peso maintained the good tone of the last days in the last day of a week that central banks dominated, with this optimism managing for the moment to overshadow the advance of contagion [de Covid-19]”CI Banco explained.
Weekly advance
During the week, compared to a record of 20.9172 units last Friday, the peso accumulated a gain of 13.10 cents or 0.63 percent. The improvement in the crossover was due to more monetary measures to combat inflation.
The Federal Reserve announced Wednesday that it will end its bond purchases in March, which began in support of the pandemic. In this way, he paved the way for three interest rate hikes of 25 basis points in 2022.
Following the restrictive tone of its US counterpart, the Banxico increased its interest rate in its last decision of the year, yesterday Thursday, by half a percentage point to 5.50%, a movement higher than expected by the consensus of analysts.
Reference-www.eleconomista.com.mx